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On June 18, the Federal Reserve will hold a meeting to discuss plans to relax leverage ratio requirements for large banks, which is expected to kick off a broad plan to reconsider bank rules. The Federal Reserve announced that it will hold a board meeting on June 25 to discuss revising the so-called "supplementary leverage ratio," which requires banks to set aside capital for assets regardless of risk. This will be the first meeting held after Federal Reserve Governor Bowman was confirmed as the Feds top regulatory official. Relaxing leverage ratio requirements may be the first of several plans by the Federal Reserve to relax rules. Bowman has laid out an ambitious plan to reform the way the Federal Reserve regulates and supervises some of the largest and most complex banks in the United States. The Fed did not provide any details of the proposals it is considering, but banks have been asking for years to modify the supplementary leverage ratio, which could exempt traditionally safe assets or modify the formula used to calculate the leverage ratio. Banks say the supplementary leverage ratio could actually hinder their ability to enter the intermediate Treasury market during times of stress.According to Sky News Arabia, Irans Islamic Revolutionary Guard Corps announced that it will launch a new round of attacks on Israeli air bases.The Atlanta Feds GDPNow model expects U.S. GDP growth to be 3.5% in the second quarter, compared with the previous estimate of 3.8%.Sources said Black Sea CPC Blend exports in July will remain unchanged from June at 1.65 million bpd.The Israeli military said the missiles were fired from Iran towards Israel.

Ethereum Development 55% Complete After Merge: Vitalik Buterin

Alice Wang

Jul 25, 2022 15:13



Vitalik Buterin discussed the long-term viability of the network on July 21 at the annual Ethereum Community Conference (EthCC) in Paris.


With just two months before Ethereum (ETH) switches from energy-intensive proof-of-work mining to proof-of-stake consensus, the highly anticipated Merge was a hot subject.


To an audience of developers, Buterin said, "After the merging, you will be able to construct an Ethereum client that does not even know the proof-of-work phase has occurred."


He continued by saying that developers still had a lot of work to do since the network as a whole will only be "55 percent complete until we conclude the Merge." Although there may be delays, September 19 has been set aside for The Merge, which will connect the current Ethereum chain with the fresh Beacon Chain.

Massive Planned Ethereum Scaling

The transaction costs associated with Ethereum, which soar when the network is overloaded, are one of the most often voiced grievances. As a consensus change, The Merge won't resolve this problem, therefore transaction fees will continue to vary and become more costly during periods of high block space demand.


As the network grows, this problem will be addressed by upgrades scheduled for the next year.


 Ethereum "will be a far more scalable system by the conclusion of this road plan," said Buterin, adding that it "will be able to perform 100,000 transactions per second" by then. The network can only handle 15-20 transactions per second at the moment, which makes wider adoption impractical.


Buterin suggested more improvements with the rhymes "surge," "verge," "purge," and "splurge" in addition to the present one. These are a component of the network's cleaning phase and scale development, which are anticipated to be implemented in the next years.


He continued by saying that there will be significant adjustments to the security model, token supply, and monetary policy of Ethereum. Currently, around 5.5 million ETH are still being issued annually for Ethereum. Once the Merge takes place, the EIP-1559 upgrade's transaction fee burning procedure will render issuance deflationary, causing the supply to gradually decline.


More than 2.5 million ETH have been burned or lost when the update was introduced in August 2021. This is worth almost $4 billion at the present pricing.

Merge momentum is still present

Asset values are still rising as a result of these monetary characteristics, which are the exact opposite of inflationary fiat currencies. As interest in Merge rises, ETH has gained 33% over the previous week.


Following a monthly gain of 40%, ETH was up 2.5 percent on the day and trading at $1,578 at the time of writing. It is driving the current crypto market rise, but next week's macroeconomic data and worries about a recession may swiftly send everything spiraling downward.

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